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They (i.e. materials like gold/silver) have inherent value as being relatively difficult to obtain without significant work and being useful in creating valuabl
by mrkstu 3y ago
They (i.e. materials like gold/silver) have inherent value as being relatively difficult to obtain without significant work and being useful in creating valuable objects.
Because of those properties they become a store of value (representing the work and rarity) which then makes them a useful proxy for trading that value, which increases their rarity/value by taking it out of circulation when used as a store of value.
- Robotbeat 3y agoStill, it should be said the vast majority of the value of gold is contextual. Just like aluminum before we perfected ability to make it cheaply.
- codedokode 3y agoCan we conclude that gold is similar to cryptocurrency because of this?